Client Alerts & Newsletters

Summary of COVID-19 (Coronavirus) Stimulus Legislation


The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion stimulus package, was approved by the U.S. House of Representatives by a voice vote on March 27, 2020 despite opposition from certain Republican members who were seeking a roll call vote. The package was approved unanimously by the U.S. Senate with a vote of 96-0 on March 25, 2020. It is the third coronavirus emergency response bill considered this month in Congress, which passed the Coronavirus Preparedness and Response Supplemental Appropriations Act on March 6 and the Families First Coronavirus Response Act on March 18.

The CARES Act was first drafted by Majority Leader Mitch McConnell (R-KY), though after significant resistance from Senate Democrats, the final bill text was principally negotiated by Treasury Secretary Steve Mnuchin and Senate Minority Leader Chuck Schumer (D-NY). The broad stimulus package is viewed as a compromise and includes:

  • Federal grants, loans, and other assistance for small businesses and other businesses disproportionately affected by the coronavirus outbreak
  • Additional funding for hospitals and doctors as they brace for continued and increased pressure on their workforce and systems
  • Direct financial assistance to individual taxpayers
  • An expansion of unemployment insurance
The following PDF provides a summary of the key provisions included in the Act.

For more information, please contact the professional(s) listed below, or your regular Crowell & Moring contact.

James G. Flood
Partner – Washington, D.C.
Phone: +1 202.624.2716

Robert Holleyman
Partner and C&M International President & CEO – Washington, D.C.
Phone: +1 202.624.2505

Tim Shadyac
Director, Government Affairs – Washington, D.C.
Phone: +1 202.624.2958

S. Starling Marshall
Partner – New York
Phone: +1 212.895.4263

Laurel Pyke Malson
Partner – Washington, D.C.
Phone: +1 202.624.2576

W. Scott Douglas
Senior Policy Director – Washington, D.C.
Phone: +1 202.508.8944

Thomas P. Gies
Partner – Washington, D.C.
Phone: +1 202.624.2690

Scott Lessne
Senior Counsel – Washington, D.C.
Phone: +1 202.624.2597

Eric Homsi
Counsel – New York
Phone: +1 212.803.4070

David W. O'Brien
Partner – Washington, D.C.
Phone: +1 202.624.2850

Matthew Vicinanzo
Associate – Washington, D.C.
Phone: +1 202.508.8721

Joshua Boswell
C&M International Director – Washington, D.C.
Phone: +1 202.508.8752

Trey Flowers
C&M International Consultant – Washington, D.C.
Phone: +1 202.654.6729

Peter Gray
Senior Counsel – Washington, D.C.
Phone: +1 202.624.2513

Lisa Kimmel, Ph.D.
Senior Counsel – Washington, D.C.
Phone: +1 202.624.2749

Crowell & Moring LLP is an international law firm with offices in the United States, Europe, MENA, and Asia that represents clients in litigation and arbitration, regulatory and policy, and transactional and corporate matters. The firm is internationally recognized for its representation of Fortune 500 companies in high-stakes litigation and government-facing matters, as well as its ongoing commitment to pro bono service and diversity, equity, and inclusion.

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